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HL

Harding Loevner Portfolio holdings

AUM $9.72B
1-Year Est. Return 22.38%
This Fund
S&P 500
This Quarter Est. Return
+3.21%
1 Year Est. Return
+22.38%
3 Year Est. Return
+79.36%
5 Year Est. Return
+98.01%
10 Year Est. Return
+375.62%
AUM
$19.2B
AUM Growth
+$1.63B
Cap. Flow
+$1.26B
Cap. Flow %
6.53%
Top 10 Hldgs %
39.72%
Holding
157
New
25
Increased
37
Reduced
42
Closed
5

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$259M
2
BIDU icon
Baidu
BIDU
+$176M
3
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$171M
4
FRC
First Republic Bank
FRC
+$149M
5
SLB icon
SLB Ltd
SLB
+$102M

Top Sells

Rank Stock Value
1
NKE icon
Nike
NKE
+$156M
2
SIVB
SVB Financial Group
SIVB
+$146M
3
VEU icon
Vanguard FTSE All-World ex-US ETF
VEU
+$25M
4
INDA icon
iShares MSCI India ETF
INDA
+$23.5M
5
BKNG icon
Booking.com
BKNG
+$17.3M

Sector Composition

Rank Sector Weight
1 Financials 22.34%
2 Technology 18.75%
3 Communication Services 13.57%
4 Energy 9.81%
5 Consumer Discretionary 9.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COR icon
51
Cencora
COR
$61.2B
$136M 0.71%
1,576,538
-36,792
-2% -$3.53M
SBUX icon
52
Starbucks
SBUX
$120B
$135M 0.7%
2,336,963
-15,942
-0.7% -$922K
CBD
53
DELISTED
Companhia Brasileira de Distribuicao
CBD
$132M 0.69%
6,542,476
+71,086
+1% +$1.55M
DIS icon
54
Walt Disney
DIS
$181B
$128M 0.67%
1,276,858
-26,301
-2% -$2.79M
MMM icon
55
3M
MMM
$94.3B
$126M 0.66%
688,717
-14,511
-2% -$2.88M
WBC
56
DELISTED
WABCO HOLDINGS INC.
WBC
$125M 0.65%
932,500
-5,626
-0.6% -$815K
MSFT icon
57
Microsoft
MSFT
$3.71T
$123M 0.64%
1,351,601
-29,404
-2% -$2.69M
HSBC icon
58
HSBC
HSBC
$356B
$119M 0.62%
2,683,206
+112,570
+4% +$5.36M
TV icon
59
Televisa
TV
$1.49B
$114M 0.59%
7,149,506
+3,684,862
+106% +$67.4M
SBNY
60
DELISTED
Signature Bank
SBNY
$113M 0.59%
799,647
+67,886
+9% +$10.2M
XOM icon
61
ExxonMobil
XOM
$634B
$111M 0.58%
1,492,979
-47,062
-3% -$3.76M
TCOM icon
62
Trip.com Group
TCOM
$29.1B
$110M 0.57%
2,352,957
-55,042
-2% -$2.58M
MON
63
DELISTED
Monsanto Co
MON
$106M 0.55%
909,244
-17,508
-2% -$2.11M
WBA
64
DELISTED
Walgreens Boots Alliance
WBA
$96.1M 0.5%
1,465,810
-10,474
-0.7% -$748K
FMX icon
65
Fomento Económico Mexicano
FMX
$41.7B
$92.1M 0.48%
1,007,649
-552
-0.1% -$51.7K
NTES icon
66
NetEase
NTES
$84.7B
$78.6M 0.41%
1,402,125
+53,845
+4% +$3.38M
EC icon
67
Ecopetrol
EC
$34.5B
$17.9M 0.09%
928,346
+72,516
+8% +$1.3M
KOF icon
68
Coca-Cola Femsa
KOF
$23.2B
$16.1M 0.08%
242,332
– –
GGAL icon
69
Galicia Financial Group
GGAL
$7.42B
$15.4M 0.08%
234,129
+17,929
+8% +$1.18M
TEO icon
70
Telecom Argentina
TEO
$5.96B
$10.3M 0.05%
+329,750
New +$11.6M
PX
71
DELISTED
Praxair Inc
PX
$5.52M 0.03%
37,099
+20,672
+126% +$3.22M
ST icon
72
Sensata Technologies
ST
$6.79B
$1.62M 0.01%
+31,240
New +$1.67M
PSMT icon
73
Pricesmart
PSMT
$5.46B
$1.53M 0.01%
18,377
-37,275
-67% -$3.07M
ALL icon
74
Allstate
ALL
$67.5B
$290K ﹤0.01%
3,058
– –
IJK icon
75
iShares S&P Mid-Cap 400 Growth ETF
IJK
$11.2B
$254K ﹤0.01%
+4,652
New +$257K
1 2
3
4 5

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FCM
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CCM
Cullen Capital Management New York $9.75B AUM 21.81% 1-Year Est. Return
URS
Utah Retirement Systems Salt Lake City, Utah $9.78B AUM 28.72% 1-Year Est. Return
MPI
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TIM
Thornburg Investment Management Santa Fe, New Mexico $9.63B AUM 35.65% 1-Year Est. Return
SC
Sculptor Capital New York $9.61B AUM 27.5% 1-Year Est. Return
TCA
Tortoise Capital Advisors Overland Park, Kansas $9.6B AUM 19.53% 1-Year Est. Return

Harding Loevner's Q1 2018 Portfolio in Review

As of Q1 2018, Harding Loevner held 157 positions worth $19.2B, up 9.3% from $17.6B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Harding Loevner deployed $1.26B of net new capital in Q1 2018, opening 25 new positions and adding to 37 existing holdings. Its largest new stake was Telecom Argentina: 329,750 shares worth $10.3M.

By sector, the portfolio is most concentrated in Financials at 22% of assets, down from 23% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Nike, an estimated $156M trimmed.

  • Harding Loevner's largest Q1 2018 buy was Telecom Argentina: 329,750 shares worth $10.3M.
  • Harding Loevner added most to TSMC in Q1 2018, an estimated $259M increase.
  • Harding Loevner's biggest Q1 2018 reduction was Nike, cutting an estimated $156M.
  • Harding Loevner fully exited iShares MSCI India ETF in Q1 2018, selling an estimated $23.5M.
  • Harding Loevner's ten largest holdings make up 40% of its $19.2B portfolio in Q1 2018.
  • Harding Loevner opened 25 new positions and closed 5 in Q1 2018.
  • Harding Loevner's portfolio value rose 9.3% quarter-over-quarter to $19.2B.

Based on Harding Loevner's 13F filing for Q1 2018, filed 14 May 2018.